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Yida China Holdings Ltd. ( (HK:3639) ) just unveiled an update.
Yida China Holdings has disclosed that two of its subsidiaries, Dalian Shenghe and Dalian Rongda, have been sued by Great Wall AMC in the People’s Court of Huangpu District of Shanghai after failing to meet repayment deadlines under a debt restructuring agreement. The plaintiff is seeking repayment of RMB294 million in principal plus restructuring gains, liquidated damages and penalty interest, confirmation of its priority claim over collateral provided by Dalian Rongda, joint and several guarantee liability from another subsidiary, Yida Development, and that all three defendants bear litigation costs. The company is seeking legal advice and negotiating repayment arrangements, while warning shareholders and investors about associated risks, underscoring ongoing balance-sheet pressures and legal uncertainties around its restructuring efforts.
The most recent analyst rating on (HK:3639) stock is a Sell with a HK$0.06 price target. To see the full list of analyst forecasts on Yida China Holdings Ltd. stock, see the HK:3639 Stock Forecast page.
More about Yida China Holdings Ltd.
Yida China Holdings Limited is a Hong Kong-listed company incorporated in the Cayman Islands that operates in mainland China through its subsidiaries, including Dalian Shenghe, Dalian Rongda and Yida Development. The group is engaged in property-related and investment activities and has been undertaking debt restructuring arrangements with financial institutions to manage its liabilities.
YTD Price Performance: 51.11%
Average Trading Volume: 1,471,896
Technical Sentiment Signal: Sell
Current Market Cap: HK$175.7M
Find detailed analytics on 3639 stock on TipRanks’ Stock Analysis page.